Berachain is a blockchain platform designed for decentralized finance (DeFi) activities. It operates within the Cosmos ecosystem, which means it’s part of a larger network of interconnected blockchains. What sets Berachain apart is its unique consensus mechanism called Proof-of-Liquidity. This means that instead of traditional methods like Proof-of-Work or Proof-of-Stake, Berachain relies on the liquidity of its assets to validate transactions and secure the network.
In terms of funding, Berachain is well-supported, boasting a valuation of $420.7 million. This financial backing indicates confidence in the project’s potential and sustainability.
Understanding the tokens associated with Berachain is essential for participating in its ecosystem. BERA is the token used for transaction fees, while BGT is utilized for governance purposes, allowing token holders to have a say in the platform’s decision-making processes. Additionally, HONEY serves as the stablecoin within the Berachain network, providing stability and predictability to users when conducting transactions and engaging in DeFi activities.
How To Be Eligible for Berachain Airdrop
- Perform Activities
- Interact with the testnet.
- Complete Galxe quests.
- Run a node (optional).
- Deploy smart contracts (optional).
- Deploy Smart Contract:
- Add Berachain-Artio network manually.
- Claim test tokens.
- Swap and provide liquidity on BEX.
- Mint HONEY.
- Trade on BERPS.
- Supply/Borrow assets on BEND.
- Complete Galxe quests.
- Deploy a smart contract on ThirdWeb.
- Complete Deployment:
- Fill in required parameters.
- Add your wallet as the primary sale recipient.
- Confirm deployment transaction.
- Mint desired number of tokens.